Case Timeline
On October 9, 2023, the Department for the Seizure of Illegally Acquired Property of the Prosecutor General’s Office of the Republic of Armenia filed a lawsuit with the Anti-Corruption Court against Gagik Tsarukyan and others. The lawsuit was accepted for proceedings on October 18 by Judge Lili Drmayan, and on the same day, the court granted a motion to apply provisional measures.
On December 5, 2023, a preliminary hearing was scheduled, and during 2024—on April 15 and July 1—the court, by its decisions, involved third parties in the case, including “Yerevan Ararat Brandy-Wine-Vodka Combine” LLC.
Motion and Accelerated Trial
At the preliminary hearing on June 19, 2025, Gagik Tsarukyan’s representative submitted a motion to apply accelerated trial procedures and to dismiss the lawsuit on the grounds of being manifestly unfounded.
On September 18, 2025, the court partially granted the motion, applying accelerated trial procedures to part of the case. Specifically, the following claims will undergo accelerated trial:
- Four real estate units located on Moskovyan and Tumanyan Streets in Yerevan
- 373,100 shares of “ABOVYAN CHAPICH-1” LLC
- The purchase costs of three vehicles totaling 25,936,701 AMD (2,653,980 AMD, 4,228,961 AMD, and 19,053,760 AMD)
Two Separate Proceedings
On September 18, the court decided to separate the remaining claims into a distinct proceeding. The new case was assigned the number HCD/0241/02/25 and was also assigned to Judge Lili Drmayan.
By the decision of September 25, 2025, the newly created case was accepted for proceedings, and a preliminary hearing was scheduled for October 14.
Involved Parties
Respondents in the case include Gagik Tsarukyan, his family members, and other individuals, including Javahir Tsarukyan (Arakelyan), Nver Tsarukyan, Hovhannes Tsarukyan, Arpi Avetisyan, and others.
Several companies connected to Tsarukyan’s business interests are involved as third parties, including:
- “Yerevan Ararat Brandy-Wine-Vodka Combine” LLC
- “National Olympic Committee of Armenia” NGO
- “Zvartnots Handling” LLC
- “Onira Club” LLC
- Several companies belonging to the “Multi” group
- “Shustov Trading House” LLC
Court hearings for the separated case will be held at the RA Anti-Corruption Court, located at 3/9 Tbilisyan Highway.
]]>With its vision of building an all-encompassing FinTech Hub in Yerevan via its locally and globally connected industry Association platform – FinTech Armenia is working on shaping the Financial Technology sector’s future, covering Payment Systems, Capital Markets, AI for Financial Services, Blockchain & Tokenization, Insurance and Banking transformation – locally, regionally, and worldwide.
Ameriabank reaffirms its commitment to supporting FinTech Armenia in the development of the fintech sector – creating a dynamic platform between the fast-paced fintech sector and the rapidly evolving Banking industry – in Armenia and internationally. The banking firm’s experienced leadership teams will be engaged in key Institutional Working Groups of FinTech Armenia such as Banking Transformation, Startups & Ventures, CBA Sandbox, Education.
Armine Ghazaryam, CPSO and Management Board Member, stated:
“As one of the key drivers of Armenia’s economy, we continue to transform the banking sector by combining financial expertise, cutting-edge technology, and human-centered values. Our collaboration with FinTech Armenia is about forging new partnerships, delivering bold solutions, and advancing our mission to improve lives. Ameria goes beyond being a financial banking institution – it is a fintech space about people. Our story is about shaping a mindset, building a culture, and fostering values. We have never ceased to be an organization that embraces innovation and thrives on challenges. This partnership marks the genuine continuation of our fintech journey, contributing to the sustainable growth of the fintech industry both in Armenia and internationally”.
Stefan Lucas, Founding CEO of FinTech Armenia, added:
“Onboarding Ameriabank to our growing FinTech Armenia Association platform is a game-changer – both for Armenia and for the International FinTech-enabled Banking Transformation industry. Ameriabank’s ecosystem solutions extend beyond banking, serving as an industry platform that connects technology, innovation, and investments. We are confident about Ameriabank’s positive contribution to help drive and further scale the integration of Armenian FinTech market participants into the Global Financial Ecosystem – and vice versa.
About Ameriabank
Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy. In pursuit of digital transformation, the Bank has implemented unique products, services and innovative platforms designed to meet the diverse financial and non-financial needs people have today and keeps on improving them.
Being a dynamically developing fintech environment, Ameriabank offers comprehensive solutions to improve the quality of life.
The Bank is supervised by the Central Bank of Armenia.
About FinTech Armenia
FinTech Armenia is the leading FinTech, AI & Banking Hub of the Caucasus – acting as a dynamic industry association platform cross-bridging innovation & driving Financial Technology transformation across the Region and Worldwide.
Through Memberships, Partnerships, R&D Streams, Committees & Institutional Working Groups – FinTech Armenia cross-connects Corporates, Governments, NGOs, Academia, and Startups to Accelerate Transformation of the Financial Services sector – thereby Strengthening & Accelerating the adoption of innovative new Financial Technologies, AI Tools & FinTech Solutions.
Contact: [email protected]
]]>Ameriabank continues to hold its position as the absolute leader in Armenia’s banking sector by car loan portfolio with a market share of about 50% as of June 30, 2025.
In the first eight months of 2025 alone, Ameriabank’s car loan portfolio grew by more than 40% compared to the end of 2024. During the same period, over 30% of these loans were issued online via MyCar.am platform. MyCar.am platform enables visitors to find a car that suits their needs and budget, drawing from the offers by more than 60 partner car dealers, including 30 official representatives in the primary and secondary markets. The platform now also allows individuals to sell their own car after registering online.
With advanced calculators, filters and comparison tools the platform streamlines the search process helping users to save time, assess value for money, and make the best purchase decision.
About Ameriabank
Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy. In pursuit of digital transformation, the Bank has implemented unique products, services and innovative platforms designed to meet the diverse financial and non-financial needs people have today, and keeps on improving them.
Being a dynamically developing fintech environment, Ameriabank offers comprehensive solutions to improve the quality of life.
The Bank is supervised by the Central Bank of Armenia.
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In a conversation with Iravaban.net, Natali Sahakyan, Head of the Strategic Planning, Policy Development and Monitoring Department of the Ministry of Internal Affairs, noted that the main objectives of the subdivision are to increase public trust in the ministry and the police, as well as to prevent possible violations of discipline, integrity, and ethics.
“Or the detection of such cases, as well as the elimination of their causes and contributing circumstances. Great attention is paid to the continuous development of the capabilities and skills of the subdivision’s personnel.
Cooperation with other officials related to the field is also emphasized, as well as the development of annual programs, the analysis of which will allow identifying existing problems,” Sahakyan noted.
The official also emphasized the importance of the code of conduct developed for police officers, which is based on the standard code of conduct for public servants.
Changes have also been made to the disciplinary code: “The new code defines disciplinary standards, and the procedure for conducting service investigations has been modernized with the application of digital technologies.”
The ministry also reports that during 2024, 1911 service investigations and studies were conducted in the Internal Security and Anti-Corruption Department of the Ministry of Internal Affairs. 53 officers were dismissed, and 46 criminal proceedings were initiated.
At the same time, 21 police officers were dismissed from police service not as a disciplinary sanction, but under Article 45, Part 1, Clauses 9, 9.1, and 11.1 of the “Law on Police Service.”
7 disciplinary sanctions were applied to civil servants of the structural subdivisions of the Ministry of Internal Affairs, in particular: 2 “Warnings” and 5 “Reprimands” were issued.
27 disciplinary sanctions were applied to officers of the Rescue Service, including:
- “Reprimand” was issued to 11
- “Severe Reprimand” was issued to 12
- Basic salary was reduced by up to 20 percent for 2
- Service was terminated for 2
7 disciplinary sanctions were applied to civil servants of the Migration and Citizenship Service, specifically: 3 “Warnings” and 4 “Reprimands” were issued.
30 disciplinary sanctions were applied to employees of organizations under the Ministry of Internal Affairs, in particular: 23 “Reprimands” and 7 “Severe Reprimands” were issued.
During 2024, the Internal Security and Anti-Corruption Department of the Ministry of Internal Affairs prepared and sent materials from 51 service investigations to preliminary investigation bodies, which initiated 46 criminal proceedings (36 regarding police officers, 1 regarding rescue service, 5 regarding migration and citizenship service, 2 regarding structural subdivisions of the Ministry of Internal Affairs, 1 regarding employees of subordinate organizations, 1 regarding citizens).
These contained elements of receiving bribes, abuse or exceeding official powers (including with the use of violence or the threat of using it), official forgery, official negligence, falsification of evidence, explanations or procedural documents, disclosure of information containing state secrets, embezzlement of entrusted property, fraud, theft, extortion, theft of documents, acquisition or sale of criminally obtained property, failure to perform or improper performance of duties for the safekeeping of firearms, weapons, ammunition, abuses in public bidding or procurement, and assistance in illegal border crossing.
During 6 sessions of the disciplinary committee convened at the Ministry of Internal Affairs, 40 materials of service investigations concerning 45 police officers were discussed. As a result of the discussions, by orders of the Minister of Internal Affairs and the Chief of Police-Deputy Minister of Internal Affairs, disciplinary sanctions were applied to 43 police officers, particularly: 3 officers were issued a “Reprimand,” 3 officers a “Severe Reprimand,” and 37 officers were dismissed from police service. In addition, the service investigation against 1 police officer was terminated, and the discussion of the materials of the service investigation conducted against 1 officer and the conclusion drawn up based on its results was postponed.
According to Natali Sahakyan, the ministry will also be consistent in monitoring the behavior of persons dismissed from service to reduce transparency and conflict of interest risks. A study will be conducted on mechanisms for ensuring transparency and mitigating conflict of interest risks during the post-employment period for persons discharged from police service, based on an analysis of international standards (including GRECO) and best practices of at least 5 Council of Europe member states.
A draft of legislative changes will be developed based on the report.
The “Public Oversight and Awareness of Effective and Inclusive Police Reforms” sub-grant is implemented by the “Armenian Lawyers Association” within the framework of the “Monitoring of Justice Sector Reforms in Armenia” program funded by the European Union, under a grant announced by the “Social Justice” NGO.
The project aims to increase civil society participation in monitoring police reforms and assessing their impact by providing structural engagement mechanisms, independent evaluation, and raising public awareness.
This article was prepared with the financial support of the European Union. The “Armenian Lawyers Association” non-governmental organization is responsible for the content, and it does not necessarily reflect the views of the European Union.
]]>Choosing a smart home is not merely about purchasing a few “smart” devices. It is about enhancing quality of life – comfort, security, energy efficiency, and intuitive control. Thanks to LifeSmart, professional solutions that set a new benchmark in the industry are now available in Armenia. And with Smartic’s team providing consultation, design, and installation, the process becomes reliable and high-quality from start to finish.
LifeSmart is a world-class premium brand, often referred to as the “Apple of the smart home industry.” Why?
• It offers exceptional design with intuitive and simple controls.
• The system is built for harmony: all devices work seamlessly together without complex configurations.
• It ensures professional-grade stability and security.
• It is available in more than 100 countries, becoming a trusted choice for millions of users worldwide.
Smartic is the official representative of LifeSmart in Armenia, delivering complete solutions, from consultation to system design, installation, and ongoing maintenance. This means Armenian customers can be assured that they are not simply buying devices but receiving a fully professional end-to-end service.
For those who are not yet familiar with the concept, a smart home is a set of technologies that allows you to control lighting, heating, curtains, security systems, and even household appliances directly from your phone or through voice commands. Everything is managed through a single, unified system.
From now on, subscribers of Team Telecom Armenia, Ucom, and Viva can activate and use imID’s MobileID eSIM service on any eSIM-compatible device—without the need for a physical SIM card. With MobileID eSIM, users can securely and seamlessly register, log in, carry out transactions, and sign documents across banking, government, and private sector websites and applications.
Karen Mkoyan, CEO of imID, highlighted the importance of the initiative:
“Launching Mobile ID for eSIM users is a natural extension of our vision to build an inclusive and modern digital ecosystem. This update marks another step toward innovation, accessibility, and the development of Armenia’s future-ready digital infrastructure.”
The new service offers the same high level of security and legal validity as SIM card–based versions. All identification and e-signature processes are protected with cryptographic technologies that comply with international standards.
About imID
imID is Armenia’s trusted provider of digital identity and trust services, delivering Identification-as-a-Service (IDaaS), Authentication-as-a-Service (AuthaaS), and Signature-as-a-Service (SignaaS) solutions. The company is setting a new standard for digital trust, enabling individuals, businesses, and government institutions to fully engage and participate in the digital world—both in Armenia and beyond.
For more information, visit www.imid.am.
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According to her, it is particularly important that the new police reform strategy for 2024-2026 was developed based on lessons learned from the aforementioned document. Although the previous strategy coincided with a number of problems and obstacles related to the time period, it nevertheless registered great successes in several directions, according to Sahakyan.
“The creation and implementation of the Patrol Service and Operational Management Centers throughout the republic, as well as the establishment of the Ministry of Internal Affairs, were of cornerstone significance. The latter became part of the executive body that exercises civilian oversight and bears political responsibility characteristic of a democratic society.
The clear distribution of functions for policy development and implementation in the field of police activities was very important,” noted Natali Sahakyan.
During the development of the new strategy, observations and proposals presented by state bodies were taken into account, as well as the international obligations assumed by the Republic of Armenia.
“The new strategy has been formed in a fairly comprehensive and, I’m not afraid to say, unprecedented format. The discussions have been quite inclusive: a number of focus group discussions have been organized with the participation of representatives from more than two dozen non-governmental organizations, whose suggestions and observations have also been taken into account,” said Sahakyan.
The Ministry official emphasized that the primary directions of the new strategy are considered to be the final establishment of the Ministry of Internal Affairs, the completion of the structure and functionality of the police, as well as ensuring the continuity of already launched reforms.
The sub-grant “Public Oversight and Awareness of Effective and Inclusive Police Reforms” is implemented by the Armenian Lawyers Association within the framework of the “Monitoring of Justice Sector Reforms in Armenia” program funded by the European Union, under the grant announced by the “Social Justice” NGO.
The aim of the program is to increase civil society participation in monitoring police reforms and impact assessment, ensuring structural engagement mechanisms, independent evaluation, and raising public awareness.
This article has been prepared with the financial support of the European Union. The Armenian Lawyers Association non-governmental organization is responsible for the content, and it doesn’t necessarily express the views of the European Union.
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This innovative solution offers real benefits to clients by reducing costs, accelerating processes, and making them more convenient. Digital cards are complete with all benefits provided by a physical card of the same class, e.g. for a digital Platinum card – free access to DragonPass business lounges worldwide, fast track service at European airports, etc.
It should be noted that the digital business card can be ordered both separately and as part of a package, in which case the client also gets accounts in AMD and foreign currency and Internet Banking/Mobile Banking system for two users.
For more details about digital cards, and for the procedure to apply for them, click here.
About Ameriabank
Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy. In pursuit of digital transformation, the Bank has implemented unique products, services and innovative platforms designed to meet the diverse financial and non-financial needs people have today and keeps on improving them.
Being a dynamically developing fintech environment, Ameriabank offers comprehensive solutions to improve the quality of life.
The Bank is supervised by the Central Bank of Armenia.
]]>Ameriabank offers a wide range of mortgage loans: loans for purchase, renovation and construction of residential and commercial property, preferential lending terms under state programs, as well as special mortgage loan for our compatriots in the Diaspora. The bank’s new tranche lending mechanism allows reducing the credit burden during property acquisition stages until completion of construction.
Notably, over 45% of mortgage loans provided by Ameriabank in H1 2025 for purchase of apartments was issued online via MyHome.am.
This year, MyHome platform has been supplemented with a number of new tools that make real estate transactions more convenient and affordable. In particular, the platform allows to search for, buy or rent real estate both on primary and secondary markets. The geography of property has been expanded to cover options abroad. Additionally, a number of discounts and special deals in dozens of appliance, furniture, design and construction material stores is available for registered users.
Furthermore, the following new features were launched on the platform:
- The possibility to post personal announcements, enabling individual users identified as Ameriabank clients to publish real estate sale and rent advertisements. Previously, this feature was available only for real estate agencies.
- Renovation calculator, which allows planning the renovation budget by selecting the necessary categories (walls, ceiling, floor, etc.), entering the amount of construction materials and getting a calculation based on approximate average market prices.
- Property review option, enabling users to leave opinions about the presented property, thus ensuring transparent and reliable experience.
About Ameriabank
Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy. In pursuit of digital transformation, the Bank has implemented unique products, services and innovative platforms designed to meet the diverse financial and non-financial needs people have today, and keeps on improving them.
Being a dynamically developing fintech environment, Ameriabank offers comprehensive solutions to improve the quality of life.
The Bank is supervised by the Central Bank of Armenia.
]]>Humble and unique: this is how the mother describes her son. He studied well in school and aimed to become a dentist like his grandfather Ashot.
“He went to the army in very good spirits. He served in Jrakan as a sniper. He had a positive attitude toward his service,” says his father, Artyom Meliksetyan.
On September 27, he called his family members, told them that everything was normal, and gave hope and courage to his parents not to worry too much. The father recounts that during the intense days of fighting, Ashot would call them twice a day.
“On October 5 or 6, he called and was very distressed. When I spoke with him, I realized something was wrong. I asked if he had been wounded, he said everything was normal. I told him to definitely wear a helmet and bulletproof vest when going up to the position. With tears, he said, ‘Dad, we’ve surrendered all our positions, everyone has fallen in battle, only three of us are left, we’re in the military unit’s basement.’ Then he called and said that the MOB (mobilization) guys had come and taken them,” the father recalls.
When they asked him to flee and save his life, Ashot replied that he could not do such a thing. He fell in battle on October 28, 2020.
Details in the video:
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